The Adani versus Birla battle in a prized market for cement4 min read 07 Jun 2022, 10:27 PM IST
Birla’s UltraTech has made it clear it intends to retain leadership
Gautam Adani’s meteoric rise to the world’s ninth-richest person began with a port on India’s west coast in the 1990s and friendship with a politician who’s now prime minister. The rest has been all about finding the next industry that will enlarge his debt-fuelled empire. The port brought in coal, liquefied gas and palm oil, and so Adani got into these and adjacent businesses. Once he began supplying coal to power plants, he entered mining and electricity generation and distribution. He supplied piped gas to Indian cities, and set out to harvest solar and wind power. Extending his dominance in logistics to owning airports, grain silos and data centres was logical, as was selling a cooking medium: He just had to refine Indonesian palm-oil arriving at Indian ports, of which he now owns 13.